What are the Taxes?

A common question home buyers ask: what are the taxes on this property?

While the recorded taxes are what the homeowner(s) paid, in arrears in Illinois, that does not indicate what you, if you purchase said home, would pay. If the current owners are being assessed higher (aka their property value was higher when they purchased then when you will be), their taxes will be higher. Of course, other factors such as whether or not they have exemptions such as a homeowner or senior, or senior freeze, come into play as well. However, there is a chance, and it is quite common now, that as a home buyer you possibly can be paying less. Just make sure to do your due diligence once you move in the property.

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